Earnings Per Share

9 Months Ended

Sep. 30, 2016

A reconciliation of basic and diluted weighted-average shares outstanding is as follows:



	Three Months Ended September 30,		Nine Months Ended September 30,
	2016	2015	2016	2015
Basic weighted average shares outstanding	119,480,642	124,457,996	120,476,813	125,788,925
Weighted average dilutive options outstanding	2,430,121	1,682,313	2,209,739	1,614,164
Diluted weighted average shares outstanding	121,910,763	126,140,309	122,686,552	127,403,089
Antidilutive shares	—	—	—	—

As discussed earlier in Note 2—New Accounting Standards, the Company adopted ASU 2016-09 on January 1, 2016. The adoption resulted in an adjustment to the weighted average diluted shares outstanding to exclude excess tax benefits from the assumed proceeds in the diluted shares calculation.